2014 Surveyreport Mba Com Prospective Web Release

The premier provider of market intelligence
mba.com Prospective
Students Survey
2014
SURVEY REPORT
Contents
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Key Findings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Program Consideration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Preferred Program Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Study Destinations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Student Decision Timeline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Marketing Channels . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Message Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Student Motivations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
School Selection Criteria . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Educational Financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Career Intentions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Entrepreneurship . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Concluding Note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Explore Interactive Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Respondent Characteristics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Contact Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Contributors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Acknowledgements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
2014 mba.com Prospective Students Survey Report
Introduction
Every month, thousands of individuals from around the globe register on mba.comthe portal to the Graduate Management
Admission Test (GMAT) exam and information source for prospective students interested in pursuing a graduate
management degree. Their registration on mba.com and efforts to prepare for and apply to graduate business school provide
one measure of the demand for graduate management education.
This 2014 mba.com Prospective Students Survey Report explores the motivations, behaviors, program choices, and intended
career outcomes shared by more than 12,000 individuals who registered on mba.com from October 2012 through September
2013. Survey data collected in 2013 are compared with earlier data collected from more than 71,000 prospective business
school students who have responded to our mba.com registrants surveys over the past four years. With survey responses
available for all world regions as well as 15 specific countries, this is the largest data resource of its kind.1
Survey topics featured in this report include:
n
Changing demand in the marketplace for graduate management education, including program preferences of prospective
business school students, their preferred study destinations, and motivations for pursuing graduate business degrees.
The expected career outcomes of prospective students, their timelines for considering and ultimately applying to graduate
management programs, and their expected sources of funding to pay for their degrees.
Key information sources for prospective students when making their school selections, which illustrate communication
channels that business school admissions and marketing professionals can optimize in outreach efforts to attract potential
applicants.
About This Study
Accompanying Data
The mba.com Prospective Students Survey is a product

of the Graduate Management Admission Council (GMAC),
a global nonprofit education organization of leading
graduate business schools and the owner of the Graduate
Management Admission Test (GMAT) exam. The GMAT
exam is an important part of the admissions process for
more than 6,000 graduate management programs around
the world. GMAC is dedicated to creating access to and
disseminating information about graduate management
education; these schools and others rely on the Council as
the premier provider of reliable data about the graduate
management education industry.
GMAC offers an interactive online research tool to

accompany this summary report, available exclusively to
schools that accept the GMAT exam in their admissions
process. The interactive research tool lets users examine
survey responses in greater depth and conduct customized
data searches by numerous demographic variables. More
information about this tool can be found in the Explore
Interactive Report section at the end of this report. This
summary report with overall response information is
publicly available at gmac.com/prospectivestudents.
Technical Note: The interactive report is best viewed
in Internet Explorer 10+, Google Chrome, Safari, or iOS
browsers.
School Signup Open for GMAC Survey Research Series

In addition to ongoing research of prospective graduate
business students, GMAC conducts annual studies of
graduating students, alumni, employers, and admissions
professionals. Visit gmac.com/surveysignup today to
include your school in GMAC research studies. Schools can
facilitate surveys directly by sending invitations and survey
links to students, alumni and/or employers, or you can send
your contact list to GMAC researchers who will manage the
survey process for you. Signup continues throughout the
year for all GMAC surveys.
For more details about the survey sample and methodology, see the Methodology section at the end of this report.
2014 Graduate Management Admission Council (GMAC). All rights reserved.
Key Findings
MBA Program Is Most Considered, With Growing
Interest in Specialized Masters
Interest in specialized business masters (non-MBA)
programs has increased since GMAC researchers first
began monitoring them five years ago in this study.
Nevertheless, MBA programs remain the dominant program
type that prospective students consider when they think
about pursuing graduate management education.
n
Only a quarter of prospective students (26%) consider

both MBA and non-MBA degree programs, which
represents a decrease since 2009 (33%).
The percentage of prospective students who consider
only MBA programs is slightly stronger in 2013 than it
was in 2009 among citizens of Canada, Central Asia,
Latin America, the Middle East and Africa, and the
United States.
There is also growing interest in specialized business
masters (non-MBA) programs notably among citizens of
Asia-Pacific Islands and Europe, with a slight increase in
interest among US citizens as well.
Educational Quality Is Top Criteria for

Study Destination Choice
The reputation of an educational system is the most
important reason that prospective students give for
choosing a preferred study destination.
n
The top 10 study destinations prospective students

prefer include (in rank order): the United States, United
Kingdom, Canada, France, India, Hong Kong, Germany,
Singapore, Australia, and the Netherlands.
The majority (70%) of prospective students worldwide
indicate a preference to study in the United States,
consistent with previous survey year findings.
School Outreach May Hinge on Candidates

Timeline and Funding
Aspiring students begin to develop the list of programs to
which they will apply about eight months prior to sitting for
the GMAT exam, on average.
n
Timeline to submit the first application is about four

and a half years after undergraduate graduation for
MBA candidates, compared with two and a half years
after undergraduate graduation for specialized business
degree candidates, on average.
The most common reservation prospective students have

about pursuing a graduate management degree revolves
around the cost of the education.
n
MBA candidates expect to finance nearly half of their

education through personal earnings or savings (25%)
and loans (24%).
Specialized masters candidates expect to rely on
parental support (29%) and personal earnings or savings
(21%) to finance half the cost of their education.
Improved Career Outcomes Are Key Motivators

for Future Business Students
The primary motivations of todays prospective business
school students to pursue a graduate management
education are consistent with the past: to increase job
opportunities, develop knowledge, skills, and abilities
(KSAs), and increase salary potential.
n
Quality and reputation of the program continue to be of

primary importance to many prospective students when
choosing a school.
Finance (37%), consulting (34%), and products and
services (33%) continue to be prospective students most
sought-after industries.
Although only four percent of prospective students in
2013 self-identified as entrepreneurs, 26 percent of all
prospective students expect to pursue entrepreneurial
activities after graduation, up from 20 percent in 2009.
Program Consideration
likely of all candidates to consider pursuing both of

these program types, regardless of gender (31 percent of
women and 29 percent of men).
Prospective business school students have a variety of

program types to choose among when deciding to pursue
a graduate management education. Two categories of
graduate business programs are explored in this report
MBA programs and specialized masters degree (nonMBA) programs in a business discipline. Our report further
subdivides these categories into specific program types.
For example, MBA degree formats include full-time twoyear, full-time one-year, part-time, executive, and online
programs. Master-level (non-MBA) programs in business
include accounting, finance, management, and many others.
Interest only in MBA programs was most prevalent

among men, regardless of age. In 2013, 60 percent of
men, compared with 45 percent of women, considered
only an MBA program.
Categorically, MBA programs remain the prevailing

degree formats that prospective business school students
considered in 2013. Since 2009, student interest in MBA
programs has grown across many world regions. The
majority of prospective students who consider only MBA
programs are, by citizenship: Canadians (72% in 2013, up
from 67% in 2009), Central Asians (70%, up from 62%),
Latin Americans (66%, up from 51%), Middle East and
African citizens (61%, up from 59%), and US citizens (61%,
up from 59%).
Interest in specialized business masters programs has

increased over the past five years, but MBA programs
remain the dominant program type that mba.com
registrants consider for their advanced business education
(Figure 1).
A majority (53%) of prospective students in 2013
considered only an MBA program and about a quarter
(26%) considered both an MBA and a specialized masters
in business program. In addition, 1 in 5 (20%) prospects
considered only specialized business masters programs.
The specific MBA programs prospective students consider

are as follows.
Candidate interest in various degree programs differed

based on gender and age:
n
The greatest interest in specialized masters programs

in business was observed among women, regardless of
age27 percent of women considered only a specialized
masters program in business compared with 15 percent
of men.
Cross-over demandprospective students interested

in both MBA and specialized masters programswas
strongest among female prospects and those younger
than 24. In 2013, 29 percent of women compared with
24 percent of men considered both program types.
Prospective students younger than 24 are the most
Full-time MBA programs remain the leading program

type among prospective MBA students in 2013. By
program duration, more than half (52%) of prospects
who consider an MBA are interested in a full-time
two-year format; 49 percent are interested in a full-time
one-year format.
Figure 1. Graduate Management Programs Considered, 2009 to 2013
Percentage of respondents
60%
55% 54% 54%
57%
53%
40%
33% 32%
28%
25% 26%
18% 18% 20%
20%
13% 14%
0%
MBA only
MBA & Masters

2009
2010
2011
Source: GMAC (2014) mba.com Prospective Students Survey. Data collected from 2009 to 2013.
Masters only
2012
2013
Prospective student interest in part-time MBA programs

continues to weaken33 percent of prospects who
consider an MBA degree are interested in part-time
formats in 2013, compared with 39 percent in 2009.
lexible, executive, and online MBA program interest
F
remained relatively consistent over the past five
years25 percent of prospects considered flexible MBA,
17 percent considered executive MBA, and 17 percent
considered online MBA programs in 2013.
The MBA is not an end in itself, but a means
to an end. It is a degree designed to give

you the ability to develop your career to
its fullest potential, at an accelerated pace.
What will you get out of an MBA? Aside from
a powerful life experience, the MBA degree
should supply three main value propositions:
skills, networks, and brand.
Growing interest in the specialized business masters

programs has been fueled primarily by citizens of AsiaPacific Islands and Europe42 percent and 36 percent
of prospects in 2013 compared with 30 percent and
22 percent in 2009, respectively. Interest in specialized
masters programs is also growing in the United States,
albeit at a slower rateeight percent of US citizens in
2009 compared with 13 percent in 2013 considered only
specialized masters programs in business.
Prospects who consider pursuing a specialized masters
degree in business are most interested in master-level
programs in finance (44%), accounting (39%), management
(33%), and international management (25%). Since 2009,
these four program types have consistently drawn the
greatest candidate interest. In 2013, global prospects also
considered the following master-level programs: marketing
(22%), data analytics (15%), and entrepreneurship (14%).
The sections titled Marketing Channels and Message Development, appearing later in this report,
offer suggestions for ways that business schools can use the findings about program preferences
to conduct targeted outreach to potential candidates.
Preferred Program Type

In 2013, for the first time in this survey, prospective
students were asked to specify the program type they
most preferred among the various graduate management
programs in their consideration set. Two-fifths (40%) of
all prospective students prefer full-time MBA programs,
whether two-year (21%) or one-year (19%) format
(Figure 2). In addition, 11 percent prefer a part-time MBA
program. The remaining prospects prefer an assortment
of other MBA and business masters programs.
student interest based on their stated program preferences

versus programs they initially consider may provide schools
with a better means for targeting candidates for potential
follow-through.
The business world has become very dynamic
and only the right people with the right skills

will be able to contribute positively to the
development of business. The survey is an eye
opener, it has helped me to think critically
about what I want to [do] in future. This survey
can also be used as a guide in the selection of
appropriate graduate business schools.
The findings about student program preference provide

a more nuanced view of the complex decision-making
process that candidates engage in when researching
potential graduate business programs, and is especially
meaningful since prospects often consider more than
one type of management program. Therefore, exploring
Figure 2. Preferred Graduate Management Program Type

Full-time MBA, two years or more
Full-time MBA, less than two years
Part-time MBA
Master of accounting
Master of finance
Flexible MBA
Online MBA
Executive MBA (EMBA)
PhD in business
Joint degree program with an MBA
Master in management
Master of marketing
Master of international management
Master of human resources
Master of supply chain management
One-year PGP program
Master of taxation
Master of business IT
Master of data analytics
Master of entrepreneurship
Other program type
21%
19%
11%
9%
7%
5%
5%
4%
3%
2%
2%
2%
2%
1%
0.9%
0.8%
0.8%
0.8%
0.6%
0.4%
3%
Source: GMAC (2014) mba.com Prospective Students Survey. Data collected in 2013.
The list of MBA and specialized business masters

programs displayed in Table 1 shows the percentage of
prospective students who consider a particular program
type (24 degree programs shown) and compares it with
the percentage of each group that stated a preference for
that program type. For instance, in 2013, 40 percent of

prospective students considered full-time two-year MBA
programs and 53 percent of these individuals stated that
they prefer this program type.
Table 1. Graduate Management Programs Considered and Preferred

Program Type
Percentage of
Students Considering
Full-time MBA, two years or more
Percentage Preferring a Program

Among Those Who Considered
40%
53%
Master of accounting
18%
50%
Full-time MBA, less than two years
38%
49%
Part-time MBA
25%
43%
Master of finance
20%
37%
13%
36%
7%
31%
Online/distance learning MBA

Joint degree with an MBA
Executive MBA
13%
28%
Flexible MBA
19%
26%
4%
20%
One-year PGP program*

Master of marketing
10%
19%
Master of human resources
7%
17%
Master of taxation
5%
17%
Master of supply chain management
6%
14%
Master of business IT
6%
13%
Master of international management
11%
13%
Master in management
15%
13%
Two-year PGP program*
4%
10%
Master of health administration
2%
10%
Master of data analytics
7%
10%
Master of real estate management
3%
8%
Master of engineering management
3%
7%
Master of entrepreneurship
6%
7%
Master of project management
7%
4%
*Postgraduate program (PGP) is the Indian version of the MBA, offered in two-year and one-year formats.
Study Destinations2
pursuing a graduate management education. Reputation

of an educational system was universally chosen as the
number one reason given by prospective students who
preferred each of the shown destinations.
Around the globe today, prospective business school

students have more quality school choices available than
ever before. Nevertheless, the majority (70%) of survey
respondents still prefer to study in the United States.
I feel that the visa rules of host country
are a very important factor in deciding the

institute/campus for international graduate
program. In that sense I feel that Canada and
Germany offer one of the best environments
for international applicants.
The top 10 global study destinations preferred by

prospective students include (in rank order): the United
States, the United Kingdom, Canada, France, India, Hong
Kong, Germany, Singapore, Australia, and the Netherlands.
Table 2 shows the three reasons (out of 17 options)
prospective students noted as most important when
choosing one of these preferred global destinations for
Table 2. Top Reasons for Choosing a Study Destination, by Location of Choice

United States
United Kingdom
Canada
France
India
Reputation of
educational system
Reputation of
educational system
Reputation of
educational system
Reputation of
educational system
Reputation of
educational system
Attractiveness
of location
Improved chances of
international career
Attractiveness
of location
Improved chances of
Affordability of
education/tuition fees
Better preparation
for career
Develop an
international network
of peers
Better preparation
for career
Better preparation
for career
Availability of
financial aid
Hong Kong
Germany
Singapore
Australia
Netherlands
Reputation of
educational system
Reputation of
educational system
Reputation of
educational system
Reputation of
educational system
Reputation of
educational system
Better preparation
for career
Affordability of
education/tuition fees
Improved chances of
Attractiveness
of location
Study in a country
that offers
English education
Attractiveness
of location
Attractiveness
of location
Better preparation
for career
Improved chances of
Improved chances of
Visit gmac.com/geographictrends for a Data-To-Go brief titled, Where Students Are Pursuing Graduate Business School and Why.
10
Student Decision Timeline

The decision to pursue graduate management education is
the first step in the school selection process. On average,
prospective students submit their first application to a
graduate business program four years after completing their
bachelors (or first university) degree programtypically
four and a half years for those considering MBA programs
and two and a half years for those considering specialized
business, or non-MBA, masters degree programs.
This candidate timeline may be divided into four
periods: precontemplation (the time before the prospect
considers graduate management education), followed by
contemplation, preparation, and action.
The precontemplation stage averages about two years,
and can differ dramatically by prospective student
characteristics, such as the type of business program
considered. For example, prospects who only consider
MBA programs tend to spend more than three years (38
months) after completing their first degree program in the
precontemplation stage, in contrast to those who consider
a specialized business masters degree and transition
out of the precontemplation stage three months before
completing their bachelors degree program.
From contemplation, an additional two years may elapse
as the prospect explores and prepares before submitting
his or her first application for a graduate management
education. This is the critical stage when prospects may
be most receptive to school outreach. On average, those

who only consider MBA programs spend 25 months in
this phase, compared with 21 months for those who only
consider non-MBA business masters programsonly a
slight difference.
While a graduate business program is in the
very distant future for me, I believe that it is

never too early to begin planning for matters
of that level of importance.
Obtaining my MBA is something I have always

planned on. Now that I have three years of
work experience, it is time to begin.
Prospective students begin to develop a targeted list of

programs where they plan to apply about eight months
prior to sitting for the GMAT exam, on average. Figure 3
shows differences in these time frames based on student
citizenship. Nearly all prospective students (93%) who
responded to the survey in 2013three months after
registering on mba.comreported having a preferred
school3 and tended to submit their first application two
months after taking the exam. In addition, 53 percent of
prospective students have a safety school and 50 percent
have a stretch school to which they intend to apply.
Figure 3. Time Frame When Students Develop Short List of Business Schools, by Average Number of Months Before
the GMAT Exam, and by Citizenship
More Than
12 Months
n
n
n
n
n
n
n
n
n
n
Bangladesh
Bulgaria
Egypt
France
Iran
Kenya
Nigeria
Pakistan
South Africa
Ukraine
10-12 Months
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
n
Brazil
Chile
Colombia
Ghana
India
Indonesia
Italy
Netherlands
Peru
Philippines
Poland
Portugal
Romania
Russia
Sweden
Vietnam
7-9 Months
n
n
n
n
n
n
n
n
n
n
n
n
n
n
Australia
Belgium
Canada
Germany
Greece
Japan
Lebanon
Malaysia
Mexico
Nepal
Singapore
Spain
UK
US
6 Months
or Fewer
n
n
n
n
n
n
n
China
Israel
Saudi Arabia
South Korea
Taiwan
Thailand
Turkey
Source: GMAC (2014) mba.com Prospective Students Survey. Data collected in 2013 (N > 25).
In 2013, prospective students were asked whether they had a preferred school, a safety school, and/or a stretch school for the first time in this survey.
Marketing Channels
With this insight into typical student decision timelines,
business schools have data they can use to leverage the
GMAT pre-test time frame for registering their brand into
the consciousness of prospective students. Presumably,
obtaining a spot on a prospects short list of schools
requires precision in message distribution as well as
message content. Achieving such precision, in turn, requires
knowledge of the typical resources prospective students
use to research and gather information about programs
they are considering.
Consistently, GMAC research shows that a schools website
is the top resource students consult when researching
potential business programs, accessed by 80 percent of
prospective students in 2013. School resources in general
account for 3 of the top 5 information channels that
students access when they research programs. These
include the school websites (80%), as well as school
brochures (46%), and school admissions professionals
(42%). In addition, 31 percent of prospective students seek
information from a schools official blog, 16 percent from
student ambassadors, 10 percent from a schools official
videos, and 9 percent from a schools microblog.
Yet, the ability to drive prospective students to a schools
most valuable channelits official websiteor to any
other school marketing channel, begins with an informed
individual, someone who is aware of the school. Reaching
the unaware prospect, therefore, may be a top priority for
program outreach. That level of outreach requires insight
into other non-school resources that prospective students
rely on when researching potential degree programs.
On the other hand, those who do have a list of preferred

schools are more likely to access traditional channels of
information such as consulting school resources, conferring
with friends and family, coworkers or peers, and current
students and alumni. In addition, those with a preferred
school in mind are more likely to review ranking publications
than those without a preference for a specific school.
Exploring the differences between marketing channels used
by various prospects can assist schools when developing
their applicant outreach and marketing plans. Different
channels for message distribution for various events may
benefit a programs promotional campaign. As an example,
a campaign to increase awareness of the executive
MBA program brand may use the channels engaged by
prospects who consider the executive MBA program type.
Doing so would involve a more generalized outreach that
attempts to move a prospective student from consideration
of a program to preference for the program type. On the
other hand, a campaign to boost executive MBA applicants
may want to focus messages on the channels used by
prospects who have an expressed preference for this
program type.
The information channels consulted by prospects who
prefer a specific program type should be given priority
consideration by schools wanting to increase their chances
of ending up on a candidates short list. For example,
full-time two-year MBA programs, in such case, may want
to coordinate efforts with test preparation companies
(Table 3) and attend virtual school fairs to be able to
influence prospects program preferences.
Figure 4 shows the top non-school-related resources

prospective students use to research the programs they
may consider for application. More than half (52%) talk
to their friends and family about their options. Two out of
5 (41%) prospective students research business schools
on mba.com4 and use ranking publications (40%) when
seeking information about programs.
Table 3 presents the top marketing channelsexcluding

school resourcesthat best differentiate between prospects
who are still considering among many different programs
and those who actually prefer a particular program type.
In the GMAC survey, prospective students who prefer a
full-time two-year MBA program, for instance, were more
likely than those who only considered the program type to
consult with test preparation companies. In comparison,
students who have considered full-time MBA programs
were more likely to consult their college professors.
Prospective students who do not have a preferred school

are more likely to consult nontraditional resources or those
less directly linked to a school, including social networking
sites, blogs, microblogs, independent college guides, virtual
business school fairs, career fairs, professional associations,
print and online media, and radio and television
advertisements.
Exploring opportunities with test preparation companies

and developing relationships with undergraduate
professors and advisors may help build the future pipeline
for full-time two-year MBA programs. College professors
may promote the program type to their students, while test
preparation companies may help place your schools brand
on a prospects short list.
GMAC launched SchoolFinder in December 2013. http://www.mba.com/us/find-and-compare-schools.aspx
11
12
media to develop career-related networks (43%) or for

educational purposes (31%).
The vast majority (94%) of prospective students are active

on social media sites; however, only 1 in 5 (19%) consult
social networking when researching graduate business
programs. Although men and women are equally likely
to use social media to research graduate management
education, younger prospects under the age of 24 (22%)
are more likely than those ages 24 to 30 (18%) and 31 and
older (16%) to use social media when researching business
school options.
On average, prospective students interact with two social

networking sites. Facebook is the most common social
media site used by prospective students worldwide
(ranging from 42% of Asia-Pacific Islanders to 90% of
Central Asians). More prevalent among residents of AsiaPacific Islands is use of QQ (61%) followed by Facebook
(42%). Nearly half of prospective students also use LinkedIn
(44%), with the exception of residents of Asia-Pacific
Islands (21%).
Candidates primarily use social media to stay in contact

with friends and family (84%) and for entertainment
purposes (63%). Fewer prospective students use social
Figure 4. Non-School Resources That Prospective Students Use to Research Business Schools
Friends/family
GMAT website (mba.com)
Ranking publications
Current students/alumni
Online magazines/newspapers
Coworkers/peers
Employer/supervisor
College/university professors
Career/school advisors
Information sessions
Career fairs
Admissions consultants
Print magazines/newspapers
Networking events
Social networking sites
Test preparation company
Virtual business school fairs
Professional associations
Other blogs
Non-school websites
Television advertisement
Guides/publications
Other microblogs
Radio advertisements
Job/career websites
52%
41%
40%
35%
33%
31%
31%
30%
28%
28%
25%
23%
21%
19%
19%
17%
13%
11%
8%
7%
7%
6%
5%
4%
4%
Table 3. Top Marketing Channels Differentiating Programs Considered vs. Programs Preferred*
Full-Time Two-Year MBA
Full-Time One-Year MBA
Program Considered
Program Preferred
Program Considered
Program Preferred
College and
university professors
Test prep company
College and
Non-school websites
Career and school advisors
Current students and alumni
Social networking
Friends and family
Social networking
Online magazines
and newspapers
Friends and family
Radio advertisements
Guides/publications
Networking events
Print magazines
and newspapers
Part-Time MBA
Executive MBA
Program Considered
Program Preferred
Program Considered
Program Preferred
College and
Employer/supervisor
College and
Friends and family
Co-workers and peers
Career fairs
Co-workers and peers
Print magazines
and newspapers
Job and career websites
Social networking
Television ad
Guides/publications
Online MBA
Master in Management
Program Considered
Program Preferred
Program Considered
Program Preferred
Guides/publications
College and
Career fairs
Friends and family
Coworkers and peers
Friends and family
Radio ad
Employer/supervisor
College and
Social networking
Social networking
Print magazines
and newspapers
Test prep company
Employer/supervisor
Guides/publications
Master of Accounting
Master of Finance
Program Considered
Program Preferred
Program Considered
Program Preferred
Employer/supervisor
Employer/supervisor
Online magazines
and newspapers
College and
Coworkers and peers
College and
Networking events
Social networking
Television ad
Friends and family
*Based on discriminant analysis, where Wilks Lambda p < .05.

Source: GMAC (2014) mba.com Prospective Students Survey. Data collected in 2013. Prospective students were asked to choose from among a list of 41 information
source options in the survey.
13
14
Message Development
Motivations to pursue a graduate management education

can be distilled into four components, including career
development, personal growth, skill improvement, and
career change.
A schools placement of messages and advertisements

by way of the information channels prospective students
typically consult may increase awareness, nurture
perceptions of the school, and stimulate behaviors, such
as student inquiry and application. Although message
placement can affect reach, it is message content that can
sway candidate interest. Understanding the outcomes and
goals prospective students hope to achieve from enrolling
in a graduate business program may guide the creative
aspects of a schools marketing plan.
It is important for me to look past my
military retirement and plan for me, and my

familys future. An MBA will allow me the
opportunities to leverage my experience and
capabilities in order to meet my goals.
With the job market being very competitive
Student Motivations
there is need to improve oneself to be more

marketable and stand out from the crowd
My decision also comes about as wanting to
be a role model to others and let them know
anything is possible.
Prospective business school students remain primarily

motivated to pursue a graduate management education
to achieve three objectives: (1) increase job opportunities,
(2) develop business knowledge, skills, and abilities (KSAs),
and (3) increase salary potential. Primary reservations that
would cause prospects to hesitate from enrolling continue
to be associated with the cost and potential debt load
required to obtain a graduate management education.
Figure 5. Motivational Drivers of Prospective Students, by Preferred Program Type
More
likely
Less
likely
Full-time
two-year
MBA
Full-time
one-year
MBA
Part-time
MBA
Career development
Executive
MBA
Online
MBA
Personal development
Master in
Management
Master in
Master of
Intl
Accounting
Management
KSA development
Master of
Finance
Career change
Figure 5 presents a matrix of prospective students

motivations based on their preferred program type.
As shown, the primary motivation of full-time two-year
and one-year MBA prospects is career change, such
as changing career path or increasing international
employment opportunities. On the other hand,
development of KSAs, such as developing managerial
and leadership skills, motivates part-time MBA program
prospects.
n
n
n
n
n
n
Quality/reputation: quality of the faculty

Career aspects: percentage of the class receiving job
offers
pecific aspects of program: type of program offered
S
Financial aspects: total tuition and required fees
Curriculum: specific curriculum offered
Class profile: average years of work experience of
students
Through the program I would like to
School Selection Criteria
nurture and develop my problem solving

skills, enhance critical and integrative thinking
through case study and decision making
analysis. Connect, network, facilitate exchange
of ideas with world class faculty and students
from diverse academic backgrounds and
cultures. Develop my entrepreneurship and
leadership skills, which is critical from my long
term goals perspective.
Quality and reputation of a graduate management program

continues to be of primary importance to 43 percent5 of
prospective students, followed by expected career potential
and specific program aspects, such as length and location
of the program (Figure 6). Although school class profile
and school culture are important to some prospective
students, when asked to rank order these items, they are
the least important characteristics students consider when
determining which graduate business school to attend.
The most important aspects related to students top school
selection criteria are, in rank order:
Figure 6. Prospective Student Criteria for School Selection
50%
40%
30%
20%
10%
0%
Quality/
reputation
Career
aspects
Specific program
aspects
Least important
Financial
aspects
Curriculum
School
culture
Class
profile
Most Important
Forty-three percent of respondents selected quality and reputation as the most important aspect of school selection, from among a list of seven options.
15
16
New analysis available this year showing the desired

school culture6 among prospective students is presented
in Table 4. There are significant differences based on
the prospective students residence and citizenship,
which can be explored in greater depth in the Interactive
Report.7
My school selection is based mostly on the
specialization of courses offered by certain

schools, schools reputation, and the quality
of the experienced faculty, and the job
opportunities post completion of program.
Although the course time and the fee structure
and cost of living in the specific country is also
an important factor to be considered.
Table 4. Preferred Business School Culture

Percentage of Respondents
Competitive
35%
65%
Collaborative
Homogeneous student body
26%
74%
Heterogeneous student body
Passive
11%
89%
Active learning
Vocational curriculum
42%
58%
Academic curriculum
Personal
80%
20%
Impersonal
Large class sizes
18%
82%
Small class sizes
Research-oriented
43%
57%
Teaching-oriented
Interdisciplinary
50%
50%
Concentration-focused
Team emphasis
67%
33%
Individual emphasis
Authoritarian professors
31%
69%
Egalitarian professors
Emphasize facts, knowledge
24%
76%
Emphasize critical discussion
Formal
40%
60%
Casual
Rigorous
64%
36%
Lenient
Close-knit
79%
21%
Loosely connected community
In 2013, prospective students were asked to describe their ideal school culture for the first time in this survey.
For more detailed information about the criteria prospective students use in determining which schools to apply, see the Interactive Online Research
Report. This Interactive Report is available to schools that accept the GMAT exam in their admissions process. Learn more in the section titled Explore
Interactive Report appearing at the end of this report.
6
7
The word cloud in Figure 7 illustrates the proportional

representation of candidates responses to the question,
Thinking about your ideal business school curriculum, what
do you expect to learn during a graduate management

program?8 Leadership, finance, marketing, and accounting
were the top words used to describe an ideal curriculum.
Figure 7. How Candidates Describe Their Ideal Business School Curriculum*
*For frequency reference, Leadership and Finance were mentioned 2,784 and 1,797 times, respectively, while Build appeared only 19 times in comments.
Note: The most common words used are Business, Management, Skills, and Learn, which have been removed from the word cloud to highlight less generic terms.
In 2013, prospective students were asked about their learning expectations for the first time in this survey.
17
18
Educational Financing
Expected Financial Mix for Non-MBA Business

Masters Candidates
The most common reservations prospective students have

about pursing a graduate management education revolve
around the cost of the education. Candidates are worried
about how they will finance their degree and about the size
of their potential debt burden.
Prospective students report a decrease in the expected

reliance on grants, fellowships, scholarships, loans, and
employer support.
n
Figure 8 shows the expected mix of financial sources that

prospective students plan to use to pay for their education
and shows differences in expectations about covering the
costs of school between prospects considering either MBA
or specialized business masters degrees.
There is an expected increase for spousal and parental

support.
Since 2009, the expected mix of financial sources that

prospective students will use to fund their education
has shifted slightly and varies depending on the type of
program a prospect is considering.
Expected Financial Mix for MBA Candidates
graduate business degree is the cost, so

the program I decided to choose was based
on the proximity to my current job and the
availability of online courses/flexibility.
Grants, fellowships, scholarships: from 20 percent in

2009 to 18 percent in 2013
Loans: from 28 percent in 2009 to 24 percent in 2013
Students expect to rely more on personal savings and

parental support.
n
Spousal support: from two percent in 2009 to three

percent in 2013
Parental support: from 18 percent in 2009 to 29 percent
in 2013
My biggest problem with pursuing a
Prospects report a decrease in the expected reliance on

grants, fellowships, scholarships, and loans.
n
Grants, fellowships, scholarships: from 23 percent in

2009 to 18 percent in 2013
Loans: from 23 percent in 2009 to 18 percent in 2013
Employer support: from 10 percent in 2009 to nine
percent in 2013.
Personal savings: from 23 percent in 2009 to 25 percent

in 2013
Parental support: from 12 percent in 2009 to 15 percent
in 2013
Figure 8. Expected Financial Mix, by Program Type Considered

29%
30%
25%
24%
21%
20%
18% 18%
18%
15%
14%
9%
10%
2%
0%
Grants,
fellowships,
scholarships
Loans
Personal
earnings/savings
MBA
Spousal
support
2%
Employer
support
Specialized business masters
3%
Parental
support
2%
Other
sources
Career Intentions
The following tables display a more detailed view of

the top 10 industry sectors that prospective students in
2013 were considering for their post-degree employment.
On the lists are investment banking, management
consulting, consulting services, banking, finance and
insurance, accounting, human resource services, marketing
services, venture capital, and information technology.
Tables 5 and 6 show differences in prospective students
intended industries by gender and age, respectively.
Prospective graduate business students have diverse

interests when it comes to their expected careers after
graduation. Similar to past GMAC research on prospective
students, however, finance (37%), consulting (34%),
and products and services (33%) remain the most
sought-after industries. In addition, 20 percent of
prospects are considering careers in technology, 17 percent
in the government and nonprofit sectors, 12 percent in
health care, and 10 percent each in manufacturing and
energy and utilities.
Table 5. Top 10 Intended Industries for Post-Degree Employment, by Gender

Rank
Men
Women
1st
Investment banking (18%)
Accounting (16%)
2nd
Management consulting (17%)
Banking (15%)
3rd
Consulting services (17%)
4th
Banking (14%)
5th
Finance and insurance (12%)
6th
Venture capital (11%)
Marketing services (11%)
7th
Information technology (10%)
8th
Energy (9%)
Human resource services (11%)
9th
Engineering (technology) (9%)
Educational services (8%)
10th
Human resource services (8%)
Table 6. Top Ten Intended Industries for Post-Degree Employment, by Age

Rank
Younger Than 24
24 to 30
31 and Older
1st
2nd
Banking (22%)
3rd
Accounting (18%)
4th
Banking (9%)
Educational services (9%)
5th
Energy (8%)
Government (9%)
6th
Human resources (8%)
7th
Banking (7%)
8th
Human resources (12%)
Health care (7%)
9th
Accounting (6%)
10th
Insurance (8%)
Nonprofit (6%)
19
20
Entrepreneurship
Although only four percent of prospective students in 2013
currently are entrepreneurs, 26 percent of all prospects
are considering entrepreneurial careers after graduation,
up from 20 percent in 2009. The profile of prospective
entrepreneurs (Table 7) reveals that they tend to be men,
under the age of 30, and from the developing world. In
addition, aspiring entrepreneurs tend to be interested in
MBA programs rather than specialized masters programs
in a business discipline.9
Concluding Note
The growth and diversification of graduate management
education has created a highly competitive environment
for schools of business. Understanding the prospective
student pool provides a basis for business school
professionals to strategize and develop tactical plans to
compete for talent. The results of this survey offer unique
insights into the motivations and desires of potential
applicants and can be used to ignite conversations with
inquirers and applicants, develop marketing campaigns,
and refine brand communications with future graduate
business school students.
Table 7. Profile of Prospective Students Aspiring to Be Entrepreneurs, Percentage of Respondents

Gender
Preferred Program Type
Male
31%
Female
21%
Full-time two-year MBA
35%
Full-time one-year MBA
33%
Part-time MBA
17%
Executive MBA
29%
Online MBA
17%
Master in Management
27%
Master in Intl Management
26%
Master of Accounting
14%
Master of Finance
22%
Master of Entrepreneurship
81%
41%
One-year PGP
35%
20%
Two-year PGP
30%
Age
Younger than 24
27%
24 to 30
27%
31 and older
24%
Citizenship
Asia/Pacific Islands
26%
Canada
24%
Central Asia
42%
Europe
27%
Latin America
46%
Middle East/Africa
United States
See related GMAC resources including: Market to and Recruit Future Entrepreneurs, found at http://www.gmac.com/reach-and-recruit-students/recruit-studentsfor-your-program/recruiting-tips-for-specific-audiences/future-entrepreneurs.aspx, and the B-School for Entrepreneurial Success at: http://newscenter.gmac.com/
news-center/b-school-for-entrepreneurial-success.
Explore Interactive Report
Methodology
The data presented in this report were contributed by

thousands of individuals who participate in GMACs
ongoing research studies about prospective business
school students. To accompany this summary report, a
more in-depth, comprehensive examination of survey
responses is found in an interactive online toolthe
2014 mba.com Prospective Students Survey Interactive
Data Report. This report is available as a free service to
schools that use GMAT scores for admission to one or
more programs. The Interactive Data Report allows users
to examine the survey responses by various demographic
characteristics, such as world location (residence and
citizenship), race/ethnicity for US citizens, gender, age
range, undergraduate major, self-reported GMAT score,
program type considered, and future industry of interest.
The data for this report came from responses provided

by individuals who registered on mba.comthe
GMAC website for prospective graduate business and
management students. Each month, starting in January
2013, a random sample of individuals who registered on
the website three months earlier was invited to participate
in this ongoing research study. This report also includes
data collected during the 2009, 2010, 2011, and 2012
calendar years from individuals who registered on mba.
com between October 2008 and September 2012. Overall,
more than 83,000 individuals have participated in this
survey effort over the past five years, including 22,111
individuals who responded to the online questionnaire
in 2009, 17,666 in 2010, 16,358 in 2011, 15,410 in 2012, and
12,328 in 2013.
For the analysis, GMAC researchers applied a poststratification weighted design to the data collected to
align subgroup distributions of respondents by citizenship
with a known populationGMAT exam registrants.
The use of post-stratification weights mathematically
corrects for biases in the respondent base, which adjusts
the respondent data to conform more closely to the
population parameters.
21
22
Respondent Characteristics
Ireland, Italy, Latvia, Lithuania, Luxembourg, Macedonia

(formerly the Yugoslav Republic), Malta, Moldova,
Netherlands, Norway, Poland, Portugal, Romania, Russian
Federation, Serbia and Montenegro, Slovakia, Slovenia,
Spain, Sweden, Switzerland, Ukraine, United Kingdom.
Table 8 below presents a demographic breakdown of

survey respondents, by citizenship.
n
Regional Location of Survey Respondents

All geographic regions mentioned in the 2014 mba.com
Prospective Students Survey Report use the following
region/country classifications:
n
n
n
Asia and Pacific Islands: Australia, Brunei Darussalam,

Cambodia, China, Fiji, Indonesia, Japan, Lao(s) Peoples
Democratic Republic, Malaysia, Mongolia, Myanmar, New
Zealand, North Democratic Peoples Republic of Korea,
Papua New Guinea, Philippines, Samoa, Singapore, South
Korea, Sri Lanka, Taiwan, Thailand, Vietnam.
Canada: Canada.
Central Asia: Afghanistan, Bangladesh, Bhutan, India,
Kazakhstan, Kyrgyzstan, Nepal, Pakistan, Turkmenistan,
Uzbekistan.
Europe: Albania, Armenia, Austria, Azerbaijan, Belarus,
Belgium, Bosnia and Herzegovina, Bulgaria, Croatia,
Cyprus, Czech Republic, Denmark, Estonia, Finland,
France, Georgia, Germany, Greece, Hungary, Iceland,
Latin America: Argentina, Bahamas, Barbados, Belize,

Bolivia (Plurinational State of), Brazil, Chile, Colombia,
Costa Rica, Cuba, Dominican Republic, Ecuador, El
Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras,
Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru,
Saint Kitts and Nevis, Saint Lucia, Trinidad and Tobago,
Uruguay, Venezuela (Bolivarian Republic of).
Middle East and Africa: Algeria, Angola, Bahrain, Benin,
Botswana, Burkina Faso, Burundi, Cameroon, Democratic
Republic of the Congo, Djibouti, Egypt, Eritrea, Ethiopia,
Gabon, Gambia, Ghana, Guinea, Islamic Republic of
Iran, Iraq, Israel, Ivory Coast (Cote dIvoire), Jordan,
Kenya, Kuwait, Lebanon, Lesotho, Liberia, Libyan Arab
Jamahiriya, Madagascar, Malawi, Mali, Mauritius, Morocco,
Mozambique, Namibia, Nigeria, Oman, Palestinian
Territory, Qatar, Rwanda, Saudi Arabia, Senegal, Sierra
Leone, Somalia, South Africa, Sudan, Swaziland, Syrian
Arab Republic, Tanzania, Togo, Tunisia, Turkey, Uganda,
United Arab Emirates, Yemen, Zambia, Zimbabwe.
United States: United States of America and its territories.
Table 8. Demographic Profile (Number of Respondents)

Gender
Citizenship
Overall
Age
Men
Women
Under 24
24 to 30
31 and Older
Global
12,328
6,835
5,493
5,568
4,621
2,137
Asia/Pacific Islands
2,540
1,032
1,508
1,587
718
234
351
199
152
97
147
107
Central Asia
2,293
1,753
540
1,183
860
250
Europe
1,586
914
672
818
508
259
446
278
168
89
274
83
Middle East/Africa
1,035
685
350
244
486
305
United States
4,077
1,974
2,103
1,549
1,628
899
Canada
Latin America
Contact Information
For questions or comments regarding the study findings,
methodology, or data, please contact the GMAC Research
and Development Department at research@gmac.com.
Contributors
The following individuals from the Research and
Development Department at GMAC made significant
contributions to the publication of this report: Gregg
Schoenfeld, Director, Management Education Research,
questionnaire design, analysis, and survey management,
interpretation of data, and drafting of the manuscript
for intellectual content; Devina Caruthers, Research
Coordinator, administration of survey; Paula Bruggeman,
R & D Manager, editorial review and publication
management; Michelle Sparkman Renz, Director, Research
Communications, manuscript review; Tacoma Williams,
Research Coordinator, sample development and quality
assurance; and Lawrence M. Rudner, Vice President,
Research and Development, manuscript review.
Acknowledgements
GMAC especially expresses its thanks to the 12,328
prospective students who completed the mba.com survey
questionnaire in 2013, in addition to the more than 71,000
prospective students who responded in surveys from 2009
to 2012. Without your feedback, this report would not have
been possible.

No part of this publication may be reproduced, stored in a retrieval system, distributed or transmitted in any form by any means, electronic, mechanical,
photocopying, recording or otherwise, without the prior written permission of GMAC. For permission contact the GMAC legal department at legal@gmac.com.
The GMAC logo, GMAC, GMAT, Graduate Management Admission Council, and Graduate Management Admission Test are registered trademarks of the Graduate
Management Admission Council in the United States and other countries.
Facebook is a registered trademark of Facebook, Inc. Google Chrome is a trademark of Google Inc. Internet Explorer is a registered trademark of Microsoft
Corporation. iOS is a registered trademark of CISCO Technology, Inc. LinkedIn is a registered trademark of LinkedIn Corporation. QQ is a trademark of Tencent
Holdings.
Safari Management
is a registeredAdmission
trademarkCouncil
of Apple(GMAC).
Inc.
2014 Graduate
All rights reserved.
23
Learn more about GMAC at gmac.com

Learn more about the GMAT exam at mba.com
11921 Freedom Drive
Suite 300
Reston, VA 20190
USA
GMAC RESEARCH & DEVELOPMENT
e-mail: research@gmac.com
twitter: twitter.com/GMACResearchers
web:
gmac.com/surveys
The mba.com Prospective Students Survey is one in a series of five annual or biannual surveys produced by the
Graduate Management Admission Council that explore relevant issues in graduate management education. Other
GMAC surveys include...
n
Corporate Recruiters Survey
Launched in 20012002, this annual survey helps schools better understand the job market, clarify employer
expectations, and benchmark their career services practices. Employers use the survey results to benchmark
the MBA recruitment activities of their companies.
n
Alumni Perspectives Survey
Launched in 2001, this annual survey follows MBA graduates long term to understand their career progression,
their expectations, their attitudes about work, their assessment of their education, and general market trends.
Global Management Education Graduate Survey
Premiering in 2000, this survey is conducted every February to provide a comprehensive picture of soon-tobe graduates: who they are, how they chose their schools, how satisfied they are with their education, and
where they are headed after they graduate.
n
Application Trends Survey
Since its debut in 1999, this annual two-part survey compares current and previous year application data for
business school programs worldwide, highlighting trends by program type and world region.
Survey Reports provide an overview of data in addition to offering context for and discussing implications of
the research. They frequently are used to help drive strategic decision-making processes in graduate business
schools. All Survey Reports are available online at gmac.com/surveys.

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School Selection Criteria . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

2014 mba.com Prospective Students Survey Report

About This Study

The mba.com Prospective Students Survey is a product

GMAC offers an interactive online research tool to

School Signup Open for GMAC Survey Research Series

2014 Graduate Management Admission Council (GMAC). All rights reserved.

2014 mba.com Prospective Students Survey Report

Only a quarter of prospective students (26%) consider

Educational Quality Is Top Criteria for

The top 10 study destinations prospective students

2014 Graduate Management Admission Council (GMAC). All rights reserved.

School Outreach May Hinge on Candidates

Timeline to submit the first application is about four

The most common reservation prospective students have

MBA candidates expect to finance nearly half of their

Improved Career Outcomes Are Key Motivators

Quality and reputation of the program continue to be of

2014 mba.com Prospective Students Survey Report

likely of all candidates to consider pursuing both of

Prospective business school students have a variety of

Interest only in MBA programs was most prevalent

Categorically, MBA programs remain the prevailing

Interest in specialized business masters programs has

The specific MBA programs prospective students consider

Candidate interest in various degree programs differed

The greatest interest in specialized masters programs

Cross-over demandprospective students interested

Full-time MBA programs remain the leading program

Figure 1. Graduate Management Programs Considered, 2009 to 2013

55% 54% 54%

MBA & Masters

2014 mba.com Prospective Students Survey Report

Prospective student interest in part-time MBA programs

The MBA is not an end in itself, but a means

to an end. It is a degree designed to give

Growing interest in the specialized business masters

2014 Graduate Management Admission Council (GMAC). All rights reserved.

2014 mba.com Prospective Students Survey Report

Preferred Program Type

student interest based on their stated program preferences

The business world has become very dynamic

and only the right people with the right skills

The findings about student program preference provide

Figure 2. Preferred Graduate Management Program Type

2014 Graduate Management Admission Council (GMAC). All rights reserved.

2014 mba.com Prospective Students Survey Report

The list of MBA and specialized business masters

that program type. For instance, in 2013, 40 percent of

Table 1. Graduate Management Programs Considered and Preferred

Full-time MBA, two years or more

Percentage Preferring a Program

Full-time MBA, less than two years

Online/distance learning MBA

One-year PGP program*

Master of human resources

Master of supply chain management

Master of international management

Two-year PGP program*

Master of health administration

Master of data analytics

Master of real estate management

Master of engineering management

Only a quarter of prospective students (26%) consider

The top 10 study destinations prospective students

Timeline to submit the first application is about four

MBA candidates expect to finance nearly half of their

Quality and reputation of the program continue to be of

Interest only in MBA programs was most prevalent

The greatest interest in specialized masters programs

Cross-over demandprospective students interested

Full-time MBA programs remain the leading program

Prospective student interest in part-time MBA programs

The MBA is not an end in itself, but a means

The business world has become very dynamic

I feel that the visa rules of host country

While a graduate business program is in the

Obtaining my MBA is something I have always